High TradeOptions – How Are They Fake?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
High TradeOptions - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: hightradeoptions.com
Founded: 2021
Regulations: N/A
Languages: English
Deposit Methods: Bitcoin
Minimum Deposit: $400
Free Demo Account: N/A
Number of Assets:
Types of Assets:
Right off the bat, the company claims to be “one of the leading platforms offering binary options, Forex and spreads.” But with a little peak at the website, the overly generic name just screams out suspicion.
With the rise in popularity of trading, it’s only expected that scammers would want to venture into this field and rip people off with the promise of “multiplying your money.” Although there really are legitimate trading platforms out there that could give you a chance to earn, High TradeOptions isn’t one of them.
Another thing that really hits the spot is that High TradeOptions is an offshore broker making it extra risky when you put in an investment. With its legitimacy hard to trace, risking your money on this broker is certainly not worth it.
Although yes the platform does detail how investors and traders can earn, the reality, however, is that it is highly unlikely you would multiply your money or even just get your money back.
Trading Account and Conditions
High TradeOptions has confusing information regarding their account types starting with the Silver, Gold, Platinum, and Diamond levels with its “basic investment plans” starting at $400 going all the way up to $16,230.32.
Quantum Market – Advantages
There really aren’t any advantages to this broker since there isn’t any guarantee of profit or even investors getting their money back.
Quantum Market – Disadvantages
Regulation
With the regulations alone, High TradeOptions is already showing a really shady website layout. Instead of the company name showing up in the Terms and Conditions, the site screams out the company address as if to really try and prove a point.
Contradictions can be found within the site itself with one place saying the broker is based in Ohio USA and is regulated by the Commodity Futures Trading Commission while on another side of the website states that it is registered with the Financial Conduct Authority of the United States that does not exist. In the exact same About Us section, the broker states that they are from London but is regulated by the US CFTC.
To add to the fire, High TradeOptions also claims that they have licenses from a number of other bodies like the International Financial Services and Commission of Belize and the Financial Conduct Authority of the European Union and UK respectively. The broker even says they have a license from the South African Financial Services Board as well.
In an attempt to validate the legitimacy of these claims, a quick search on the National Futures Association shows zero results for High TradeOptions. The same results appear with the IFSC of Belize.
The brokerage also claims to offer a unique 1:10 leverage for bitcoin trading but in reality, the FCA and The European Securities and Markets Authority have banned Binary options trading while limiting crypto trading leverage to just 1:2.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Trading Software
Of course, the website tries to wow the market by using the industry trusted MetaTrader 4 or MT4 and MetaTrader 5 or MT5. The thing is, most legitimate sites provide a way for investors and traders to download the site directly but High TradeOptions just redirects to MT4 and MT5’s developer site.
If you login to their client portal, you’ll see that the “broker” doesn’t even have a real web platform but rather a low-budget imitation. Yes, they do display the prices of the assets “being traded” but this is actually just a graph taken from TradingView.
The best part is that when you try to change the values in buy and sell, nothing happens! To top this off, whenever you try to click the “buy” and “sell” buttons, the website will then magically just reload so there’s really no option to place a pending order and the “trade” button does absolutely nothing at all.
Trading Conditions
Trading conditions are usually considered the most important part of any broker’s website since this shows what competitive edge they have over others, what traders should be expecting, and a guide to help traders out. Well, High TradeOptions has no information regarding the brokers’ trading conditions at all!
This means that there is absolutely no way for traders to know the spread levels or even the leverage levels. Imagine this, High TradeOptions will “allow” you to trade without you knowing what exactly is your leverage or just how much they are taking from you.
This could only mean one thing, the “broker” is not actually offering real trading at all but rather a trap for people to deposit money only to participate in fake trading. The website also constantly tries to push you for an upgrade without even revealing what exactly will traders be getting once they upgrade.
Deposit, Withdrawal Methods and Fees
The website says that there are four different deposit and withdrawal options but the truth is, only Bitcoin works. Since Bitcoin transactions don’t actually reveal the name of the address the coin is being sent to, this is a perfect way for them to accept payments in the dark.
To make themselves appear more legitimate, the website offers the illusion of choices for deposit and withdrawal methods like Western Union, Skrill, and MoneyGram. All of these options won’t push through and you’ll be left with only one choice, Bitcoin.
Conclusion
High TradeOptions is definitely a shady broker that contradicts itself while offering a website that doesn’t even work properly. What makes things worse aside from contradicting themselves is that traders are left in the dark without knowing how much the broker takes from every trade and how much leverage is being applied because there most likely isn’t one.
High TradeOptions
Pros
- None
Cons
- Non existing licenses
- No indication of spread and leverage
- Most buttons on the website do nothing
- Only Bitcoin is accepted
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more